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As
a certified Cognos® Business
Partner, M&D Information Systems sells Cognos® software
and implements its solutions for our SAP®, PeopleSoft®, and
JD Edwards® clients.
Implementation and Training
We
recommend Cognos® so our clients obtain a rapid ROI
on their investment - on time and on budget - and often within
30 days. M&D’s methodology enables our consultants
to deliver value-added consulting services with competitive
rates.
• Data
ETL from SAP®, PeopleSoft®, and
..JD Edwards® to
a Central
Data Warehouse
• System/User Documentation
• On-Site Training
• Custom Reporting
Post
Implementation Support and Services
M&D
supports our clients with new
Cognos® products, such as Reportnet, the latest reporting
tool that is easy to implement and use. We
also assist clients in
evaluating which tools and components of Cognos® will provide
the most value.
Cognos® Products
Enterprise
Planning – Define hierarchy of plans,
measures, and reports that flow from broad strategic objectives
to tactical
plans across departments, divisions, and locations. NoticeCast™ compliments
Cognos® Business Iintelligence with the ability to monitor
and automatically notify key people of events as they occur.
Enterprise Scorecarding – Measure progress and accountability
by the results that matter. Implement any form of performance
management initiative: Balanced Scorecard, Six Sigma, TQM, or
your own internal system. Cognos® Visualizer/Dashboard is
recognized as the best data-visualization product in independent
industry reviews.
Enterprise Business Intelligence – Access
information to make the best business decisions. Cognos® Business
Intelligence capabilities allow large volumes of data to be meaningful
and used in day-to-day activities. Create, modify, and distribute
any type of OLAP report needed with easy-to-use
ReportNet™.
Data Preparation/ETL – Cognos® DecisionStream™ is
a fully automated, dimensionally-aware ETL software. It delivers
a foundation for reporting and provides the metadata to start
building reporting structures. ETL’s exist for SAP®,
JD Edwards®, and PeopleSoft®.
Analytic Applications – Includes
pre-built reports, performance indicators, and connections with
underlying data sources from
ERP vendors. Packages reporting and analysis, scorecarding, and
planning capabilities for areas of customer, supply chain, and
financial/operational analysis.
Sarbanes-Oxley
Act – Requires
better corporate governance to shore-up investor confidence.
To deliver the confidence at the heart of the Act, senior executives
need transparency into disclosures and financial results, the
processes that produce results, and the operational data that
drives the results.
With Cognos®, companies can meet the requirements of the
Sarbanes-Oxley Act: certification, disclosure, and timely reporting.
More importantly, in meeting these requirements, your investment
will result in better performance management, which will also
provide a true competitive advantage.
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Sarbanes-Oxley
Act
From now until the end of the current fiscal year, companies will be
required to document their financial reporting processes and related
internal
controls. The Sarbanes-Oxley Act (SOA) is designed to make companies
more accountable
to stockholders and the public in a post-Enron world. Auditors will attest
(or not), to the effectiveness of each firm’s internal controls
and validity of financial statements and reports. Simple documentation
of processes
is addressed by creating a record that describes a company’s management
reporting process that can be validated and attested to by an external
auditor.
But
eventually, something more will be needed.
SOA Section 404 and 409
Companies may have been able to meet initial SOA compliance using well-defined
processes and procedures, but compliance with upcoming Sections 404 (certification
of financial reporting processes and controls) and 409 (real-time reporting
of material events) may not be so easy.
The SEC has extended the certification deadline for SOA Section 404 compliance
until midyear 2004, effectively giving most companies an additional year
to comply with mandates for establishing solid processes and internal controls
in financial reporting. With this extra time, multifaceted user teams can
now thoroughly evaluate all potential remedies--both near-term and longer
term--to prioritize and schedule any projects necessary for SOA compliance.
Rather than rushing the process, companies can do it right the first time.
Why? Because it just makes good business sense.
What’s the Impact?
A recent AMR survey revealed the following:
Fortune
1000 companies have earmarked more than $2.5B this
year in SOA investigation and initial compliance-related
work.
85% of companies predict that SOA will require changes in IT
and application infrastructure that support the business.
79% are unsure what implications the act will have for their company.
61% expect business process change will be required.
How
do you begin to address compliance with SOA?
Planning a cogent and thorough response to SOA compliance is critical for
project and company success. We recommend the following steps:
Form
a diverse team to scope out the risks and exposure
SOA brings to your company. Documenting what gets done today--in
all its possible variations--is the first
step to understanding what areas pose the greatest
risk
of exposure.
Utilize qualified internal or external systems personnel to work with audit
staff in reviewing system processes in relation to business practices.
Have your accounting audit team certify your compliance with
business process and documentation requirements. However, it is “unlawful
for a registered public accounting firm to provide non-audit service
including financial
information system design and implementation”. (Section 201,
SOA)
Use qualified system integrators to work with your audit team to
not only identify processes, but begin using your ERP system to address
Section
404 requirements.
Turn on the capabilities in your ERP system
to automate internal controls. Initial integrated ERP compliance
tools will support Section 404 work and offer the best opportunity
to contain
long-term compliance costs on consolidated systems
Smart
companies’ reaction to SOA compliance is somewhat
analogous to reactions to Y2K. As with Y2K, companies
can get the necessary gravity
from SOA to promote systemic business improvements and changes
already in evaluation and planning phases for months, or
even years.
If
your organization is faced with the dilemma of
how to meet the certification deadline for SOA Section 404,
M&D
Information Systems can be of service. We provide SOA experienced
consultants with extensive backgrounds in SAP®, JD Edwards®,
Peoplesoft®,
and Cognos®. For
more information contact us at 719-481-1414 or email
us at info@mdisinc.com.
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